Sterling Loses Bid to Reverse Ballmer-Clippers Deal

Aug. 13 (Bloomberg) -- The record $2 billion sale of the
Los Angeles Clippers basketball team to billionaire Steve
Ballmer won’t be reversed by a California appeals court.

The appeals court today rejected the request by the team’s
former owner to put on hold the court order confirming that his
wife, Shelly Sterling, had the right to sell the Clippers. Even
if the sale hadn’t closed, Donald Sterling had failed to show
that a stay should have been granted, according to copy of
today’s order provided by Shelly Sterling’s lawyers.

The closing of the deal concluded a 3 1/2-month ordeal for
the National Basketball Association that began when audio of
Donald Sterling telling a female friend he didn’t want her
bringing black people to his team’s games was posted on the
Internet. The aftermath included condemnation from players and
businesses associated with the game, threats of boycotts,
lawsuits and the highest sale price -- by almost four times --
for an NBA franchise.

Sterling bought the Clippers in 1981 for about $12.5
million. Before the sale to Ballmer, the most paid for an NBA
team was $550 million for the Milwaukee Bucks. That franchise
was sold this year to Avenue Capital’s Marc Lasry and Fortress
Investment Group co-founder Wes Edens.

California Superior Court Judge Michael Levanas issued a
tentative decision on July 28 that gave Shelly Sterling the
authority to complete the sale of the Clippers after she had her
husband legally removed from their family trust due to mental
incapacitation. The decision allowed Ballmer to proceed with his
purchase even if Sterling appealed the ruling.

Never Sell

Sterling testified in the case that he would never sell the
team and that he would sue the NBA until the day he dies.

“We who represent Donald Sterling are deeply disappointed
that he has been deprived from ownership of the Clippers after
33 years without being accorded appellate review of this harsh
result,” his lawyers, Bobby Samini and Max Blecher, said in an
e-mail. “Nevertheless, we are confident Donald will be
completely vindicated in his federal case against the NBA. More
importantly, we believe that the ‘popular’ ruling in the Probate
matter is a serious blow to the Privacy rights for all
Americans.”